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Share Name | Share Symbol | Market | Type |
---|---|---|---|
3D Pioneer Systems Inc (CE) | USOTC:DPSM | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0003 | 0.00 | 01:00:00 |
3D Pioneer Systems, Inc.
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(Exact name of registrant as specified in its charter)
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Nevada
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27-1679428
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification No.)
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22, Hanover Square, West Central, London, United Kingdom, W1S 1JP
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(Address of principal executive offices)
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0044-203-700-8925
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(Registrant's telephone number, including area code)
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(Former name, former address and former fiscal year, if changed since last report)
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Accelerated filer [ ]
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Non-accelerated filer [ ]
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Smaller reporting company [X]
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(Do not check if a smaller reporting company)
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PAGE
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PART I - FINANCIAL INFORMATION
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Item 1.
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Financial Statements.
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3
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Item 2.
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Management's Discussion and Analysis of Financial Condition and Results of Operations.
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13
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Item 3.
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Quantitative and Qualitative Disclosures About Market Risk.
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17
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Item 4.
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Controls and Procedures.
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18
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PART II - OTHER INFORMATION
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Item 1.
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Legal Proceedings.
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18
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Item 1A.
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Risk Factors.
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18
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Item 2.
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Unregistered Sales of Equity Securities and Use of Proceeds.
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18
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Item 3.
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Defaults Upon Senior Securities.
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19
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Item 4.
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Mine Safety Disclosures.
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19
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Item 5.
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Other Information.
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19
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Item 6.
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Exhibits.
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19
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SIGNATURES
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20
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Page
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Condensed Consolidated Balance Sheets
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4
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Condensed Consolidated Statements of Operations
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5
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Condensed Consolidated Statements of Cash Flows
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6
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Notes to the Condensed Consolidated Financial Statements
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7
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3D PIONEER SYSTEMS, INC.
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(A Development Stage Company)
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Condensed Consolidated Balance Sheet
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April 30, 2014
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July 31, 2013
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(Unaudited)
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ASSETS
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Current Assets
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Cash and cash equivalents
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$
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257,491
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$
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2,231
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Prepaid expenses
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25,880
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-
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||||||
Total Current Assets
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283,371
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2,231
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Equipment, net of accumulated depreciation of $1,044 and $nil, respectively
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50,676
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-
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TOTAL ASSETS
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334,047
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2,231
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LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
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Current Liabilities
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Accounts payable and accrued liabilities
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$
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124,706
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$
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100
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Accrued interest
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3,551
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-
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Due to related party
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7,295
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3,235
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Total Current Liabilities
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135,552
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3,335
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Convertible notes payable
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76,923
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-
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TOTAL LIABILITIES
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212,475
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3,335
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STOCKHOLDERS' EQUITY (DEFICIT)
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Common Stock, par value $0.01, 200,000,000 shares authorized,
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77,536,256 and 76,032,000 shares issued and outstanding, respectively
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775,363
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760,320
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Additional paid-in capital
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(227,843
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)
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(712,800
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)
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Deficit accumulated during the development stage
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(425,948
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)
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(48,624
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)
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Total Stockholders' Equity (Deficit) | 121,572 | (1,104 | ) | |||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
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$
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334,047
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$
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2,231
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3D PIONEER SYSTEMS, INC.
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(A Development Stage Company)
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Condensed Consolidated Statements of Operations
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(Unaudited)
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Cumulative from
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|||||||||||||||
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Inception on
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Three Months Ended
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Nine Months Ended
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April 22, 2008
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April 30,
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April 30,
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to
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2014
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2013
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2014
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2013
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April 30, 2014
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REVENUES
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$
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-
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$
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-
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$
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-
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$
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-
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$
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-
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OPERATING EXPENSES
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General and administrative
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142,030
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223
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188,783
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1,285
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190,349
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Professional fees
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83,034
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18,451
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113,483
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40,513
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160,541
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Software development expenses
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42,401
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-
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42,401
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-
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42,401
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Total Operating Expenses
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267,465
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18,674
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344,667
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41,798
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393,291
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OPERATING LOSS
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(267,465
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)
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(18,674
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)
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(344,667
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)
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(41,798
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)
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(393,291
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)
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OTHER EXPENSE
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Interest expense
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(1,463
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)
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-
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(30,474
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)
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-
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(30,474
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)
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Foreign exchange loss
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(2,183
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)
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-
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(2,183
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-
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(2,183
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)
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NET LOSS
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$
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(271,111
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)
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$
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(18,674
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)
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$
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(377,324
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)
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$
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(41,798
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$
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(425,948
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)
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Basic and Diluted Loss per Common Share
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$
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(0.00
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$
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(0.00
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$
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(0.00
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$
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(0.01
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Basic and Diluted Weighted Average Common Shares Outstanding
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76,887,763
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4,652,000
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76,306,033
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2,976,176
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3D PIONEER SYSTEMS, INC.
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(A Development Stage Company)
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Condensed Consolidated Statements of Cash Flows
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(Unaudited)
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Cumulative from
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Inception on
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Nine Months Ended
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April 22, 2008
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April 30,
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to
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2014
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2013
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April 30, 2014
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CASH FLOWS FROM OPERATING ACTIVITIES
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Net loss
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$
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(377,324
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$
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(41,798
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$
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(425,948
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Adjustments to non-cash items:
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Depreciation
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1,044
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-
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1,044
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Interest expense on conversion feature
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26,923
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-
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26,923
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Changes in operating assets and liabilities:
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Prepaid expenses
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(25,880
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)
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537
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(25,880
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)
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Accounts payable and accrued liabilities
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124,606
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100
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124,706
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Accrued interest
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3,551
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-
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3,551
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Net cash used in operating activities
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(247,080
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)
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(41,161
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(295,604
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CASH FLOWS FROM INVESTING ACTIVITIES
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Purchase of equipment
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(51,720
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)
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-
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(51,720
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Net cash used in investing activities
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(51,720
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)
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-
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(51,720
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CASH FLOWS FROM FINANCING ACTIVITIES
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Proceeds from related party
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4,060
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-
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7,295
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Issuance of common stock for cash
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500,000
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27,500
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547,520
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Proceeds from convertible note payable
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50,000
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-
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50,000
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Net cash provided by financing activities
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554,060
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27,500
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604,815
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Net increase (decrease) in cash and cash equivalents
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255,260
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(13,661
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257,491
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Cash and cash equivalents - beginning of period
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2,231
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19,307
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-
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Cash and cash equivalents - end of period
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$
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257,491
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$
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5,646
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$
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257,491
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· | Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. |
· | Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
· | Level 3 - Inputs that are both significant to the fair value measurement and unobservable. |
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April 30, 2014
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July 31, 2013
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Lease security deposit and prepaid rent (note 9)
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$
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21,880
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$
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-
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Other prepaid expenses
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4,000
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-
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Total prepaid expenses
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$
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25,880
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$
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-
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2014
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2013
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Office equipment
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$
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49,035
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$
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-
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Office furniture
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2,685
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-
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Gross equipment at cost
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51,720
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-
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Accumulated depreciation and amortization
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(1,044
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)
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-
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Net equipment
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$
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50,676
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$
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-
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· | During the period ended July 31, 2008, the Company issued 32,000 common shares to an officer and director at $0.000625 per share for $20. |
· | During the year ended July 31, 2012, the Company issued 32,000,000 common shares to officers and a director at $0.000625 per share for $20,000. |
· | During the year ended July 31, 2013, the Company issued 44,000,000 common shares to unaffiliated investors at $0.000625 per share for $27,500. |
· | Durin g the period ended April 30, 2014, the Company issued 1,504,256 common shares to unaffiliated investors for $500,000. |
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April 30, 2014
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July 31, 2013
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$50,000 convertible note payable; unsecured; bearing interest at 12% per annum; due September 26, 2016
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$
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76,923
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$
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-
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Less: Current Portion
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-
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-
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Long-Term Convertible Note Payable
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$
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76,923
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$
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-
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Balance Sheet Date
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04/30/14
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7/31/13
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Cash
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$
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257,491
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$
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2,231
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Total Assets
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$
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334,047
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$
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2,231
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Total Liabilities
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$
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212,475
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$
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3,335
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Stockholders' Equity (Deficit)
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$
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121,572
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$
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(1,104
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) |
Three Months Ended
April 30,
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Nine Months Ended
April 30,
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|||||||||||||||
2014
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2013
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2014
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2013
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General and administrative expenses
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$
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142,030
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$
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223
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$
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188,783
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$
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1,285
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||||||||
Professional fees
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83,034
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18,451
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113,483
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40,513
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||||||||||||
Software development expenses
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42,401
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-
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42,401
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|||||||||||||
Interest expense
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1,463
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-
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30,474
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-
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||||||||||||
Foreign exchange loss
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2,183
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-
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2,183
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-
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||||||||||||
Net Loss
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$
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271,111
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$
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18,674
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$
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377,324
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$
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41,798
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April 30, 2014
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July 31, 2013
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|||||||
Current Assets
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$
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283,371
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$
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2,231
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Current Liabilities
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$
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135,552
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$
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3,335
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Working Capital (Deficiency)
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$
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147,819
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$
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(1,104
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)
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Nine Months Ended April 30, 2014
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Nine Months Ended April 30, 2013
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||||||
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Cash Flows used in Operating Activities
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$
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(247,080
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) |
$
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(41,161
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) | ||
Cash Flows used in Investing Activities
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$
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(51,720
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) |
$
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-
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Cash Flows provided by Financing Activities
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$
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554,060
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$
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27,500
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Net Increase (decrease) in Cash During Period
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$
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255,260
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$
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(13,661
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)
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31.1 | Rule 13(a)-14(a)/15(d)-14(a) Certification of Principal Executive and Financial Officer |
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3D PIONEER SYSTEMS, INC.
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(Registrant)
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Dated: June 23, 2014
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/s/ Alexandros Tsingos
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Alexanddros Tsingos
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President, Chief Executive Officer, Chief Financial Officer, Treasurer and Director
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(Principal Executive, Financial, and Accounting Officer)
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1 Year 3D Pioneer Systems (CE) Chart |
1 Month 3D Pioneer Systems (CE) Chart |
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